顺周期

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布局顺周期!朱少醒、杨锐文等最新动向
Zhong Guo Zheng Quan Bao· 2025-10-12 00:55
此前,多位知名主动权益基金经理对华新水泥已有布局。2025年基金半年报显示,截至6月末,基金经 理杨鑫鑫管理的工银创新动力、刘莉莉管理的富国研究精选、范妍管理的富国稳健增长、董辰管理的华 泰柏富利等均有百万股以上的持仓。 另外,玻璃龙头旗滨集团近期也获得了多位知名基金经理的增持。截至9月25日,基金经理郑澄然管理 的广发高端制造新进入旗滨集团的前十大股东序列,持股数量为3182.09万股。2025年基金半年报显 示,该基金6月末尚未有旗滨集团的持仓。 近期顺周期板块表现亮眼,吸引了投资者的广泛关注。值得注意的是,三季度,知名基金经理朱少醒管 理的"独门基"富国天惠LOF增持了水泥龙头华新水泥,玻璃龙头旗滨集团也获得了知名基金经理杨锐 文、郑澄然的增持。 业内机构认为,近期商品市场反弹主要由"反内卷"政策预期升温驱动,尤其在建材行业政策明确产能管 控后,市场信心有所修复。当前商品市场仍处于"强预期、弱现实"的反复博弈阶段,后续"反内卷"政策 仍有期待空间。 朱少醒增持水泥龙头 近期,部分上市公司因回购股份披露了前十大股东持股情况。值得注意的是,多位知名主动权益基金经 理管理的公募产品现身上市公司前十大股东名单, ...
布局顺周期!朱少醒、杨锐文等,最新动向
Zhong Guo Zheng Quan Bao· 2025-10-12 00:37
近期顺周期板块表现亮眼,吸引了投资者的广泛关注。值得注意的是,三季度,知名基金经理朱少醒管理的"独门基"富国天惠LOF增持了水泥龙头华新水 泥,玻璃龙头旗滨集团也获得了知名基金经理杨锐文、郑澄然的增持。 近期,部分上市公司因回购股份披露了前十大股东持股情况。值得注意的是,多位知名主动权益基金经理管理的公募产品现身上市公司前十大股东名单, 并出现明显的调仓动作。 10月10日,A股建筑材料行业领涨,水泥龙头华新水泥涨停。根据公司当日披露的公告,截至9月30日,知名基金经理朱少醒管理的"独门基"富国天惠LOF 新进入华新水泥的前十大股东序列,持股数量为978.13万股。翻看2025年基金半年报可以发现,6月末该基金持有华新水泥的数量仅有50万股。7月以来, 华新水泥股价累计涨超70%。 业内机构认为,近期商品市场反弹主要由"反内卷"政策预期升温驱动,尤其在建材行业政策明确产能管控后,市场信心有所修复。当前商品市场仍处 于"强预期、弱现实"的反复博弈阶段,后续"反内卷"政策仍有期待空间。 朱少醒增持水泥龙头 | 序号 | 股东名称 | 持股数量(股) | 占总股本比例(%) | 期末参考市值(亿元) | 持有限售股 ...
A股市场运行周报第62期:上证突破但遇波折,战略看慢牛、战术盯金融-20251011
ZHESHANG SECURITIES· 2025-10-11 07:33
A 股策略周报 报告日期:2025 年 10 月 11 日 证券研究报告 | A 股策略周报 | 中国策略 上证突破但遇波折,战略看慢牛、战术盯金融 ——A 股市场运行周报第 62 期 核心观点 本周上证升破 3900 点后回落,市场波动明显。展望后市,双创指数均跌破上升趋势 线,若短期不能修复则需调整;上证指数则形成日线 5 浪结构,有望继续上行。但周 五外部冲击骤然而至,短期内走势或偏震荡。当然,综合多方因素考虑,借鉴 4 月 7 日走势,我们仍然对系统性"慢"牛保持信心,若有可观回调视为增配机会。配置方面, 基于"战略看多 A 股走势,市场风格或有变化"的判断,我们建议:坚持系统性"慢"牛 思维,若外部冲击带来"倒车接人"的机会,继续逢低增配。行业配置方面,建议绝对 收益资金重点关注大金融、地产、中字头基建、红利等;相对收益风格应密切关注双 创指数上升趋势线和重要均线得失,以此作为操作依据,同时做好板块内的"高切低", 适当控制组合弹性。 本周(2025-10-09 至 2025-10-10)行情概况 (1)主要指数:大盘先涨后跌,波动明显。(2)板块观察:周期红利明显上涨, 科技风格有所走弱。(3)市 ...
英大证券晨会纪要-20251010
British Securities· 2025-10-10 05:19
Group 1 - The report indicates that the A-share market is expected to experience a震荡上行 trend post-holiday, with the Shanghai Composite Index breaking through the 3900-point mark, and the Shenzhen Component and ChiNext indices rising over 1% [3][11] - Key sectors leading the market include precious metals, semiconductors, and cyclical industries such as steel and energy metals, which are expected to perform well in the upcoming quarter [3][11] - Investors are advised to focus on companies with clear earnings growth and reasonable valuations to mitigate short-term market volatility and capitalize on performance-driven opportunities [3][11] Group 2 - The report highlights that the precious metals sector saw significant gains due to a rise in international gold prices, driven by the Federal Reserve's recent interest rate cut and increased demand for safe-haven assets [7][11] - Cyclical sectors such as non-ferrous metals and steel are expected to strengthen, supported by government policies and improving economic conditions, particularly in the context of the "14th Five-Year Plan" [8][11] - The rare earth permanent magnet sector experienced a surge following new export controls and regulations, indicating China's strategic advantage in this field, with expectations of continued demand growth [9][10]
公募看好四季度行情 增量资金“跑步”入场!
Shang Hai Zheng Quan Bao· 2025-10-09 01:17
Group 1 - A total of 68 new funds are scheduled to be launched after the National Day holiday, with 23 funds starting on October 9 alone [1][2] - The issuance of new funds has increased significantly, with September's new fund issuance exceeding 160 billion, marking a monthly record for the year [1][4] - Equity funds are the main focus, with 52 out of the 68 new funds being equity funds, including 34 equity index funds covering various indices [2][3] Group 2 - The popularity of stable products is also rising, with 8 secondary bond funds and 7 FOF products set to be launched after the holiday [3] - Active equity funds are seeing significant interest, with several well-known fund managers managing upcoming funds, indicating strong performance expectations [2][4] - Institutions are actively researching investment opportunities, with over 21,000 institutional research visits recorded in September [4] Group 3 - The outlook for the fourth quarter is optimistic, with expectations for active consumer spending during upcoming promotional events and a stable recovery in A-share and Hong Kong stock earnings [5][6] - Investment opportunities are anticipated in cyclical sectors and AI technology, driven by economic recovery and industry trends [5][6] - The shift of active funds from fixed income to equity markets is noted, as equity assets become more attractive compared to declining fixed income returns [5][6]
A股霸屏前三!创业板指狂飙50%牛冠全球,俄股垫底
Ge Long Hui· 2025-09-30 11:06
Market Performance - A-shares and Hong Kong stocks ended the third quarter of 2025 on a positive note, with major indices showing significant increases [1] - The ChiNext Index surged by 50.4%, leading global major indices in growth, while the Sci-Tech 50 and Shenzhen Component Index rose by 49.02% and 29.25% respectively [1][5] - In September, the ChiNext Index and Sci-Tech 50 Index recorded gains of over 12% and 11%, reaching three-year and four-year highs respectively [6] Sector Performance - The technology growth sector emerged as the core driving force of the market, with 30 out of 31 sectors in the Shenwan classification showing gains in the third quarter [11] - The communication sector led the quarterly growth with an increase of 48.65%, followed by electronics at 47.59% and power equipment at 44.67% [11] - In September, the top-performing sectors included power equipment (21.17%), non-ferrous metals (12.79%), and electronics (10.96%) [8] Individual Stock Performance - The ChiNext, Sci-Tech Board, and North Exchange saw a concentration of stocks that doubled in value, with notable gainers in September including Shoukai Co. (181.2%) and Haibo Technology (153.52%) [14] - In the third quarter, top performers included Shuangwei New Materials (1597.94%) and Tianpu Co. (468.92%) [14] Hong Kong Market Insights - The Hang Seng Technology Index rose by 13.95% in September, while the Hang Seng Index and the National Index increased by 7.09% and 6.79% respectively [16] - The best-performing sectors in Hong Kong in September were materials (21.68%) and non-essential consumer goods (19.99%) [17] Future Outlook - The market outlook for October and the fourth quarter of 2025 is optimistic, driven by policy expectations and a favorable liquidity environment [20] - The upcoming 20th Central Committee's Fourth Plenary Session is expected to focus on the "14th Five-Year Plan," which may boost market sentiment [21] - The technology growth sector is anticipated to present more opportunities in A-shares, while Hong Kong stocks may benefit from unique market structures and external liquidity expectations [21]
9月全球资产表现一览,谁是最大赢家?
格隆汇APP· 2025-09-30 10:19
作者 | 哥吉拉 数据支持 | 勾股大数 据(www.gogudata.com) 9 月行情,正式收官。 这一月,全球资产价格风云涌动, A 港美股市场的热点板块和核心资产的波动都足够牵动人心。贵金属、有色、 算力、机器人、创新药、半 导体等 各赛道妖股横流大涨大跌,有人押对赛道躺赢,有人踏空拍断大腿,还有人刚入场就被套牢,每时每刻都在演绎不同的博弈与悲喜。 一起来回顾一下,谁才是市场最关注的焦点。 01 A港股涨幅榜 尽管宏观经济数据整体呈现温和放缓的态势,但市场更聚焦于结构性的增长亮点,如算力、半导体、创新药研发等,持续受到资金追捧。同 时,受益于生产者价格指数( PPI)触底回升预期的顺周期资源板块也开始显现投资价值形成了 "科技成长" 与 "顺周期" 双轮驱动的良好局 面。 涨幅 TOP1:黄金白银再迎主升浪 而作为新能源产业链的上游,能源金属板块(主要指锂、钴、镍等)在 9月份同样涨幅居前。板块的上涨与电池行业高度联动,反映了市场对 储能长期趋势的乐观预期。 9月份,随着国际金价在本月创下历史新高,带动A股和港股相关概念股集体走强,贵金属板块成为两地市场中表现最为突出的板块之一。 A股涨势突出的公司 ...
又出手,狂买百亿!
Zhong Guo Ji Jin Bao· 2025-09-30 06:49
【导读】昨日股票ETF市场净流入资金超120亿元,中证A500指数成为吸金主力 继上周五狂买220亿元后,本周一股市大涨,股票ETF市场又有百亿体量资金净流入。 9月29日,A股三大股指全线飘红,创业板指和深证成指均大涨逾2%。券商、贵金属板块领涨市场,固态电池概念股表现活跃,煤炭、银行、医药等板块 出现回调。 在市场大涨行情中,资金再次借道股票ETF狂买超120亿元。其中,中证A500指数成为吸金主力,昨日净流入资金近75亿元,在总体流入资金中占比超六 成;行业主题ETF净流出居前,证券公司指数昨日净流出近35亿元。 昨日股票ETF市场净流入资金超120亿元 数据显示,截至9月29日,全市场1220只股票ETF(含跨境ETF)总规模达4.55万亿元。在昨日股市大涨行情中,股票ETF市场总份额增加73.05亿份,按照 区间成交均价测算,净流入资金达123.3亿元。 从大类型来看,昨日宽基ETF与债券ETF净流入居前,分别达119.8亿元与27.53亿元;规模变化方面,宽基ETF规模上升505.18亿元。 具体到指数维度,昨日中证A500指数单日净流入居前,达74.6亿元。 从5日角度观测,近期资金流入中证A5 ...
又出手,狂买百亿!
中国基金报· 2025-09-30 06:44
【导读】昨日股票 ETF 市场净流入资金超 120 亿元,中证 A500 指数成为吸金主力 中国基金报记者 李树超 继上周五狂买 220 亿元后,本周一股市大涨,股票 ETF 市场又有百亿体量资金净流入。 昨日股票 ETF 市场净流入资金超 120 亿元 Wind 数据显示,截至 9 月 29 日,全市场 1220 只股票 ETF (含跨境 ETF )总规模达 4.55 万亿元。在昨日股市大涨行情中,股票 ETF 市场总份额增加 73.05 亿份,按照区间成交均价测算,净流入资金达 123.3 亿元。 从大类型来看,昨日宽基 ETF 与债券 ETF 净流入居前,分别达 119.8 亿元与 27.53 亿元;规模变化方面,宽基 ETF 规模上升 505.18 亿元。 具体到指数维度,昨日中证 A500 指数单日净流入居前,达 74.6 亿元。 从 5 日角度观测,近期资金流入中证 A500 指数超 178 亿元,流入半导体材料设备指数超 48 亿元。 从产品维度,中证 A500ETF 富国昨日净流入 29.9 亿元,位居全市场首位。华泰柏瑞、南方基金旗下跟踪中证 A500 指数的产品净流入 也超 10 亿元,同 ...
资产配置日报:节前红包-20250929
HUAXI Securities· 2025-09-29 15:23
Core Insights - The equity market experienced a significant rebound on September 29, with the CSI 300 index rising by 1.54% and the Shanghai Composite Index increasing by 0.90% [1] - Key sectors leading the rally included solid-state batteries, energy storage, industrial metals, and brokerage firms, indicating a shift towards cyclical stocks alongside technology narratives [1][2] - The bond market continued to adjust, with pressures from fund redemptions and a hot equity market suppressing sentiment, leading to an increase in yields for 10-year and 30-year government bonds [1][5] Sector Summaries New Energy - Solid-state batteries and energy storage saw respective increases of 4.25% and 3.09% in the Wind index, driven by production expectations and strong demand [2] - Notable developments included research advancements from Tsinghua University in high-safety, high-energy-density solid-state lithium batteries and reports of strong domestic demand for energy storage cells [2] Cyclical Sectors - The cyclical sector showed improvement, with industrial enterprises' profits rising by 20.4% year-on-year in August, catalyzing expectations for fundamental recovery [2] - The Wind industrial metal index, engineering machinery, and chemical indices rose by 4.21%, 3.05%, and 2.30%, respectively, with copper being a focal point due to supply shortages from the Grasberg mine in Indonesia [2] Brokerage Firms - The Wind brokerage index increased by 4.89%, benefiting from average daily trading volumes exceeding 2 trillion yuan from July to September and optimistic third-quarter earnings expectations for brokerages [3] - Despite a recent pullback in the securities market, ETF funds continued to flow into brokerage ETFs, indicating a potential for a rebound in this sector [3] Hong Kong Market - The Hang Seng Index and Hang Seng Tech Index rose by 1.89% and 2.08%, respectively, with Chinese brokerages leading the gains [4] - Notable inflows included Alibaba with 5.172 billion HKD, reflecting investor confidence in its AI narrative, while other tech stocks showed mixed results [4] Bond Market Dynamics - The bond market faced renewed downward pressure, primarily due to ongoing redemption pressures from funds, with significant net redemptions observed in bond funds since September [5][6] - The performance of 7-year and 10-year government bonds improved, potentially linked to increased allocations from major banks [7] Commodity Market Trends - The commodity market showed signs of cooling, with a notable decline in black metals and a general risk-off sentiment leading to net outflows of 12.7 billion yuan across the market [10][12] - Policy signals aimed at stabilizing growth were released, with the government focusing on key industries such as petrochemicals and non-ferrous metals to boost industrial confidence [13]